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Ukraine to Legalize Cryptocurrencies by 2025—No Tax Breaks

Early in 2025, Ukraine plans to legalize cryptocurrencies, but it will not offer any tax incentives. The new regulation attempts to govern the industry under standard tax regulations.

The National Bank of Ukraine and the International Monetary Fund are now working on legislation to legalize cryptocurrencies in the first quarter of 2025. The legislation will govern digital assets but not grant tax breaks. Instead, the securities model will tax revenues from bitcoin transactions upon conversion to fiat currency.

Danylo Hetmantsev, chairman of Ukraine’s Parliamentary Committee on Finance, Tax, and Customs Policy, has stated that the draft bill will be ready for its first parliamentary reading early next year. Despite previous speculation about tax benefits for the cryptocurrency industry, the administration has decided against it. Hetmantsev noted that the careful approach tries to avoid tax evasion while maintaining financial stability.

This step is part of Ukraine’s bigger efforts to regulate the digital economy. Legalizing cryptocurrencies will create a clear framework for businesses and investors, as well as allow citizens to get access to financial services, especially given the current disagreement with Russia. The law’s final adoption will mark a significant advancement in the country’s digital asset regulations.

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Alex
Formally freelance blogger Alex is passionate writer with interest in Finance and Business, fascinated about crypto following news and covering stories.
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